It is believed he lost his footing and fell 1,300ft down a ravine after surviving the crash.
A police spokesman said:
"He was alone in the balloon and he crashed. But it would seem that he was unharmed and able to walk. He called friends to tell them he was fine.
"But when he went to seek help he fell down the mountain and died. It appears he walked a little distance from the balloon and then fell. It is icy and dangerous and it was getting dark. We do not know why he crashed."